MOL Hungarian Oil and Gas Company hereby informs capital market participants, that on 17 March 2005 based on the authorisation of the Annual General Meeting held on 30th April 2004, the Company mandated ING Bank Ltd., as investment service provider to purchase treasury shares on the stock exchange. Currently MOL owned treasury shares represents 5.16% of the registered capital, which may be increased close to 10% with a purchase of up to 5,200,000 number of “A” series shares.
The purchases can take place until 31 October 2005 through ING Bank Ltd., as investment service provider. The purpose of the programme, based on the authorisation of the Annual General Meeting, is to support the optimisation of the capital structure. The Company will inform market participants in extraordinary announcements of any transactions executed.
